Service growth key to Da Nang's economic recovery: official

Da Nang (VNA) – The service sector in the central coastal city of Da Nang posted encouraging progress in the first half of this year, making it the main pillar helping the economy overcome difficulties, recover, and develop, according to Tran Van Vu, director of the municipal Statistics Office.

In the period, the city’s economic scale was estimated to exceed 57.79 trillion VND (2.47 billion USD), of which the service sector accounted for 67.44%. The industry grew 9.82% and made up 89,95% to the overall growth of the economy, which was at 7.23%.

Meanwhile, the local trade expanded by about 5.9% against the same period last year, with retail sales of goods nearing 31.92 trillion VND.

Revenue from accommodation and food services stood at some 8.329 trillion VND, up 13.2% year-on-year. The total number of visitors served by local lodging facilities was estimated at 1.3 million, an annual increase of 33.7%.

Other trade-service areas such as transport-postage-delivery, information-communications, and finance-banking-insurance also recorded significant annual revenue growth, at 23.5%, 9.4%, and 7.42%, respectively.

Secretary of the municipal Party Committee Nguyen Van Quang said in the first six months, authorities promptly issued many policies and took measures to help the city safely, flexibly, and effectively adapt to the pandemic and recover.

Also during the period, Da Nang successfully hosted the 16th Asian route development forum (Routes Asia 2022). As a result, it saw a significant increase in the volume of domestic flights and a growing trend in the number of foreign arrivals./.